Home Stock Market Shares of GlaxoSmithKline spiked after reports of Elliott's management to buy shares

Shares of GlaxoSmithKline spiked after reports of Elliott’s management to buy shares


Shares in British pharmaceutical company GlaxoSmithKline soared on Thursday, after a report said active investor Elliott Management had amassed a stake.

Glaxo
GSK,
+ 5.89%

GSK,
+ 0.25%

stocks rose to 8%, like The Financial Times said the fund has built a “substantial” position in the company, which struggled under the direction of CEO Emma Walmsley. Glaxo is the result of separating the consumer health business from the pharmaceutical and vaccine divisions.

The FT report says some investors want Walmsley to be at the top of the consumer health business, based on his experience in running consumer healthcare operations, rather than in the pharmaceutical business. present. No companies comment, according to the FT report.

News about Glaxo helped the FTSE 100
UKX,
+ 0.49%

extended gains, up 0.4% to hit a 52-week high. The UK benchmark is up 26% from its lowest level at the end of October.

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